In its story announcing that World Bank president Paul Wolfowitz is resigning, The New York Tmes notes

In a carefully negotiated statement, the board praised Mr. Wolfowitz for his two years of service at the bank, and especially for his work in arranging for debt relief and pressing for more assistance to poor countries, especially in Africa, and also combating corruption, which was Mr. Wolfowitz's signature issue.

Mr. Wolfowitz said he was grateful for the directors' decision and, referring to the bank's mission of helping the world's poor, added: "Now it is necessary to find a way to move forward. To do that I have concluded that it is in the best interests of those whom this institution serves for that mission to be carried forward under new leadership."

Words don't matter at this stage. Neither the Bank nor Wolfowitz can spin the scent of scandal from the finale of the Wolfowitz affair. The Bank's board may have accepted his claim that his actions were honorable in order to ease him out--ignoring that a special panel had concluded he broke the rules in arranging for a hefty salary boost for his girlfriend. But Wolfowitz's (forced) departure says more than any explanatory statement from the Bank or from him. Wolfowitz had to leave because of what he did. Still, under his contract, he's entitled to a year's salary of $375,000 and other benefits. If he wants to help the world's poor, perhaps he ought to donate that money to Oxfam.

Posted by David Corn at May 17, 2007 09:22 PM